Cove Private Wealth LLC Acquires Shares of 19,220 Alphabet Inc. (NASDAQ:GOOG)

Cove Private Wealth LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,220 shares of the information services provider’s stock, valued at approximately $2,709,000. Alphabet accounts for approximately 2.6% of Cove Private Wealth LLC’s holdings, making the stock its 8th largest position.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at about $4,101,040,000. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $11,600,970,000. Cerity Partners LLC raised its holdings in shares of Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOG shares. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $165.67.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the sale, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,458 shares of company stock valued at $25,731,103. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.2 %

NASDAQ GOOG opened at $178.78 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.21 trillion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. The company has a 50 day moving average price of $170.11 and a 200 day moving average price of $152.83. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $182.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.